Koenigsegg Signs Letter of Intent for Saab

With Saab ready to launch new models like the 9-4X and 9-5 Sedan, now seems like a perfect time for a committed new owner to take over and truly develop the brand to it's full potential. In addition, Saab has gotten bankruptcy funding from the Swedish government to the tune of $3.23 billion, in order to see the new models through to launch.

With the company posting a loss of $340 million in 2008, that should keep them afloat for a while. The numbers actually aren't that bad (better then I expected) and I think with good product a new owner could turn things around relatively quickly.

So Saturn's going to The Penske Group, Opel to Manga International, Hummer to a Chinese heavy-equipment manufacturer and now Saab to Koenigsegg. Swedish Television is reporting that Koenigsegg has agreed on the terms of the deal in a letter of intent. So yes, out of all the many (well-financed, well-connected) bidders for the brand, the small sports car manufacturer is the one that wins out. Why not Fiat?

Beats me, but something seems funny about Koenigsegg purchasing a comparatively huge brand. They have that kind of expertise and knowledge? I guess it's better then just an investment company. It seems like Koenigsegg will be the front for a group of Norwegian investors that will be putting out the money.

 As always I hope for the best but I was wanting a major automaker to get Saab. Details are expected to be worked out over the next few months, with an official announcement to be made soon, within a 2 week time frame.